Seeking a professional to serve as a trustee, executor, or agent in your estate plans now or in the future? Here is a great way to get started in your search. Our members specialize in various trustee-related capacities, serving in many states. While our membership requirements are structured so that our members are professional, educated, and capable, a listing here should not be considered an endorsement or guarantee of their services. No matter what your needs are, you may find an ITA member who can assist you.
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WHY USE AN INDEPENDENT TRUSTEE
Independent trustees offer several advantages compared to corporate trustees. Firstly, their objectivity and impartiality ensure fair and unbiased decision-making, as they are free from conflicts of interest that may arise in a corporate setting. Secondly, independent trustees often specialize in trust and estate management, dedicating their entire practice to this field. This specialization drives them to stay updated with evolving regulations and industry trends, ensuring they provide the most informed advice. Additionally, independent trustees have a smaller client base, allowing them to provide personalized attention and focus on understanding the unique circumstances and goals of the trust and its beneficiaries. This personalized approach enables them to adapt strategies, make informed decisions, and build stronger relationships based on trust and effective communication.
BENEFITS OF USING THE ITA DIRECTORY
When you use our directory, you are taking a step towards being connected with a professional you can trust. By utilizing a member of the ITA, you are ensuring that your professional will adhere to our standards of membership, including requirements in education, certification, and character standards. An ITA certification signifies professionalism and commitment to upholding the highest standards.
DIFFERENCES BETWEEN ITA MEMBERSHIP
All ITA certified professionals are held to our high standards of membership, but there are additional requirements for different certifications. All ITA members, at every level, are required to abide by our Code of Ethics.
An ITA Certified Independent Trustee will have received at least 50 hours of continuing education in a relevant subject over the past five years, as well as a BA or BS, 3-5 years of experience as a trustee, and five professional references. And ITA Master Certified Independent Trustee, in addition, is required to receive at least 100 hours of relevant continuing education, and at least 10 years of experience.
INTERVIEW QUESTIONS FOR FIDUCIARIES
Everyone selecting a trustee, whether you are seeking a professional, family member, or friend, should consider these very important questions.
- What types of services do you provide?
- Are you insured for errors and omissions?
- What credentials do you have?
- What are your office and phone hours?
- If there is an emergency after hours, how do I reach you or your staff?
- What are your internal controls?
How is my confidential information protected? - What happens to me if something happens to you? What is your succession plan?
- Do you have a disaster-recovery plan for my data?
- What fees do you charge and when?
- If you use other professionals (certified public accountant, attorney, caregiver, etc.), what are their fees?
- Do you work alone or have a staff?
- If you have a staff, what types of services do you delegate to them?
- What is the fee for services provided by your staff?
- How often will you provide me with an accounting?
- Can you provide me with references of past or current clients or other professionals you have worked with who I can contact?
Trust administration, upholding your values, and making sure your needs come first, can be very challenging for first time trustees, especially when yours is the only case on which they are learning (especially if they are also one of your beneficiaries). Discuss this resource with your estate planning attorney, as you should interview everyone you are considering, before placing their names in your estate plan.
